China crucial for Chilean mining sector: Chilean minister
Updated: 2015-09-21 13:10
(Xinhua)
|
|||||||||||
SANTIAGO - "For Chile, China is a very important market as it absorbs between 47 and 50 percent of Chile's copper production," Chilean Minister of Mining Aurora Williams told Xinhua in a recent interview.
China needs Chilean copper for numerous works, including the building of new cities and the extension of existing cities, the minister said.
"The growth of the Chinese economy influences the price of copper around the world, and the slightest change in its economy will affect Chile as a commodities exporter," she added.
She recalled that China's double-digit GDP growth phase triggered a super-cycle in copper prices. "While this growth has now slowed to around 7 percent, China will always be important to us due to its sheer volume of demand for copper," she said.
After 45 years of diplomatic relations, Chile and China signed a free trade agreement in 2005, with bilateral trade now surpassing $34 billion.
While copper dominates current Chilean exports to China, "Chile has the conditions to explore other mineral reserves, including molybdenum and lithium," said Williams.
The mining industry now employs 3 percent of the Chilean labor force and contributes 12 percent to the country's GDP.
Besides mining, Chinese companies are also welcome to invest in Chilean infrastructure in other areas, said Williams, adding that recent structural reforms in Chile targeting taxes, education and working conditions have created conditions for Chinese investment.
Related Stories
Chile a 'natural' draw for affluent Chinese tourists 2015-06-10 08:52
Chilean dairy cows shipped to Tianjin 2015-01-29 15:33
Chile's copper giant sees China as important market 2013-04-09 14:50
Chile injects capital to state copper firm 2014-10-25 13:50
Mines getting greener despite challenges 2015-03-13 17:07
Today's Top News
Sino-French fund to invest in markets worldwide
Young people from US look forward to Xi's state visit: Survey
For marathon runners, it's time to shine
Japan enacts new security laws to overturn postwar pacifism
London forum advances soccer hopes
Vice-Premier Liu visits Europe to encourage cultural exchanges
Economy worries prompt Fed to hold rates steady
Overwhelmed by migrants, Croatia closes border with Serbia
Hot Topics
Lunar probe , China growth forecasts, Emission rules get tougher, China seen through 'colored lens', International board,
Editor's Picks
|
|
|
|
|
|












